Secondary Lead: Lead Prices Tested the Cost Support and Smelters were Reluctant to Sell

SHANGHAI, June 6 (SMM) - Today's lead prices dropped, testing the cost support and secondary refined lead smelters were very reluctant to sell amid the wait-and-see sentiment. The quotation of secondary refined lead was few and was in discounts of 100-0 yuan/mt (tax including) over the SMM average price while the downstream was unwilling to pick up goods and to purchase on dips. Therefore, there were few transactions in the spot market.